Featured Video, Video

How FVC is strengthening operations for 2018

FVC’s chairman and MD KS Parag and CEO Sanjay Ahuja on growing the business to the next level and the …
Don't show me again
News

Saudi Arabia to streamline housing process with digital rent network

‏The Ministries of Housing and Justice in Saudi Arabia has launched a digital rent network to facilitate electronic payments and minimise housing disputes.

Ejar Saudi
The Ejar network will provide many electronic services to all parties of the rental process, such as contract documentation and e-payments.

The network will provide many electronic services to all parties of the rental process, such as contract documentation and e-payments. The network will guarantee the commitment of all real estate agents in the Kingdom’s cities to document the unified lease contract, which is the format adopted by the government as an executive bond.

‏A total of 16 government agencies have recently looked to revamp the Kingdom’s housing sector through the launch of the Housing Program to help achieve the Kingdom’s Vision 2030, which aims to raise the percentage of real estate ownership among citizens to 70% by 2030.

The network, known as Ejar, will have a positive impact on the judicial sector as it will greatly minimise the flow of cases related to the rent sector, said Housing Minister Majid Al-Hogail.

He said the contract is meant to streamline relations and responsibility limits between the contractual parties through its authentication via the electronic network.

The new initiative is being worked out in cooperation with other government agencies including the ministries of interior and communications.

Minister of Communication and Information Technology Abdullah Al-Suwaha praised the partnership between different government parties for launching the electronic rent program.

He referred to the automation of procedures for more than 2.5 million housing units through the exchange of government information to provide rent services accurately, quickly and safely.

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

GET TAHAWUL TECH IN YOUR INBOX

The free newsletter covering the top industry headlines